Orca DAO has proposed to use funds from its treasury for buybacks and staking of ORCA tokens, waiting for a vote from the token holders.
Orca DAO Proposal
Orca DAO is proposing to use approximately 55,000 SOL for buybacks of its tokens and their staking on the Orca validator. ORCA token holders have 5 days to vote on this proposal, followed by a 2-day waiting period.
Market Reaction
Following the announcement of the proposal, the price of the ORCA token has shown increased volatility. The chart indicates noticeable price changes amid the recent events.
Summary and Next Steps
The next steps will depend on the outcome of the token holders' vote. Once voting concludes, it will be clear how Orca DAO will utilize treasury funds for buybacks and staking of ORCA.
The Orca DAO's proposal for token buybacks and staking begins with a vote that could influence future actions of the community and the market dynamics of ORCA.
